Eased listing norms for firms on IFSC stock exchanges; public shareholding cut to 10% from 25.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....This notification amends the Securities Contracts (Regulation) Rules, 1957, to facilitate listing of securities on recognized stock exchanges in International Financial Services Centres (IFSCs). Key changes include inserting definitions for "International Financial Services Centre" and "International Financial Services Centres Authority", and modifying minimum public shareholding requirements for companies listed on IFSC stock exchanges from 25% to 10%, irrespective of post-issue capital. The amendments aim to promote IFSCs by relaxing certain regulatory norms for companies seeking listing within these designated financial hubs.....